The short-term, fixed-income product, released on Friday at 5.55pm, is backed by the secured mezzanine debt financing of a A$440 million , 64-level high-rise residential development project in Melbourne's central business district, which offered a gross return of 6 per cent per annum for a minimum tenor of three months.
Minterest, which holds licences to provide both corporate and personal loans, connects corporate borrowers with retail investors. ARA said the"strong take-up" of the product"demonstrated pent-up demand by investors for an attractive, risk-adjusted return in a quality institutional-grade real estate investment in a low interest rate environment".
Minterest chief executive Charis Liau said ARA's stake helped the platform develop more products in the real estate space as alternative investment options.
France Dernières Nouvelles, France Actualités
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